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5 Companies That Had A Rough Week

For the week ending Oct. 4, CRN looks at IT companies that were unfortunate, unsuccessful or just didn't make good decisions.

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 HP Inc. To Cut Staff As Much As 16% By 2022 In Restructuring

It was a tough week for HP Inc. and thousands of its employees who face possible layoffs under a corporate restructuring plan announced this week.

The PC and print giant will reduce its total headcount by 7,000 to 9,000 workers between now and the end of the company’s fiscal 2022, which runs through the end of October 2022.

The reductions will include layoffs and voluntary early retirements. HP currently has approximately 55,000 employees.

HP is undertaking the restructuring in a bid to invest more in growth areas such as A3 printers, premium PCs, 3-D printing and contractual services. The company is facing a revenue downturn in its print supplies business.

 

 
 
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